Eos Management L.P. trimmed its holdings in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 25.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,209 shares of the company's stock after selling 5,305 shares during the period. Light & Wonder comprises about 0.6% of Eos Management L.P.'s investment portfolio, making the stock its 29th largest holding. Eos Management L.P.'s holdings in Light & Wonder were worth $1,314,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the business. True Wealth Design LLC bought a new stake in Light & Wonder during the third quarter worth about $28,000. Capital Performance Advisors LLP bought a new stake in shares of Light & Wonder during the 3rd quarter worth approximately $29,000. R Squared Ltd acquired a new stake in shares of Light & Wonder in the 4th quarter valued at approximately $35,000. Quarry LP acquired a new stake in Light & Wonder in the third quarter valued at $51,000. Finally, Blue Trust Inc. raised its holdings in shares of Light & Wonder by 194.3% in the 4th quarter. Blue Trust Inc. now owns 718 shares of the company's stock valued at $65,000 after purchasing an additional 474 shares during the period. Institutional investors and hedge funds own 88.08% of the company's stock.
Analyst Ratings Changes
Several research analysts have recently commented on the company. Citigroup upgraded Light & Wonder from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 19th. Macquarie increased their price target on shares of Light & Wonder from $122.00 to $125.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Jefferies Financial Group upped their price objective on Light & Wonder from $120.00 to $121.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. JPMorgan Chase & Co. lifted their price objective on shares of Light & Wonder from $103.00 to $110.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Finally, Benchmark raised their price objective on Light & Wonder from $114.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Light & Wonder currently has a consensus rating of "Moderate Buy" and an average target price of $110.91.
Check Out Our Latest Analysis on Light & Wonder
Light & Wonder Trading Up 0.7 %
Light & Wonder stock traded up $0.72 during trading hours on Wednesday, hitting $102.74. The stock had a trading volume of 239,348 shares, compared to its average volume of 704,831. The business's 50 day simple moving average is $94.27 and its 200-day simple moving average is $96.13. Light & Wonder, Inc. has a one year low of $84.00 and a one year high of $115.00. The stock has a market cap of $8.68 billion, a price-to-earnings ratio of 31.91, a P/E/G ratio of 0.35 and a beta of 1.59. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49.
Insider Activity
In related news, VP James Sottile sold 2,356 shares of Light & Wonder stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $105.54, for a total transaction of $248,652.24. Following the completion of the transaction, the vice president now owns 77,331 shares of the company's stock, valued at $8,161,513.74. This trade represents a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Oliver Chow sold 2,595 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $104.94, for a total transaction of $272,319.30. Following the sale, the chief financial officer now directly owns 3,695 shares in the company, valued at $387,753.30. This trade represents a 41.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,867 shares of company stock valued at $1,037,884. Insiders own 2.10% of the company's stock.
Light & Wonder Company Profile
(
Free Report)
Light & Wonder, Inc is a cross-platform global games company, which engages in the development of content and digital markets. It operates through the following segments: Gaming, SciPlay, and iGaming. The Gaming segment includes the design, manufacture, marketing, and distribution of portfolio of gaming products and services.
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